Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search


AMP Acquires PFI


AMP Asset Management today announced it had acquired the management contract for listed industrial property company, Property For Industry (PFI), for an undisclosed sum.

PFI is New Zealand's top listed industrial property investment company, having a portfolio of 37 properties located mainly in Auckland and Wellington. "We are delighted to have acquired the management contract for PFI," said AMP Asset Management Managing Director, Murray Gribben.

"As New Zealand's largest private property investment manager, we see real synergies in property investment management services, particularly as we move to an integrated global approach to investment property management," said AMP Asset Management's head of property, James Darkins.

"We also believe investors will benefit from the choice of two targeted top shelf listed property investments - PFI in industrial property and the AMP NZ Office trust in office property. Together these vehicles enable investors of all sizes to buy straight into best-of-class property investments," Mr Darkins said.

In 1998 PFI enjoyed gross shareholder returns of 19% and had a shareholder base of 3551. Its weighted average remaining lease term was 8.1 years. PFI listed on the New Zealand Stock Exchange in 1994 and has an independent board of directors.

AMP Asset Management is New Zealand's largest investment company managing funds of over $9 billion. ENDS....

© Scoop Media

Business Headlines | Sci-Tech Headlines


Super Fund/Canada Bid v NZTA: Tow Preferred Bidders For Auckland Light Rail

The two preferred delivery partners for Auckland light rail have been chosen and a final decision on who will build this transformational infrastructure will be made early next year, Minister of Transport Phil Twyford announced. More>>


9.3 Percent: Gender Pay Gap Unchanged Since 2017

“While it has remained flat since 2017, the gender pay gap has been trending down since the series began in 1998, when it was 16.2 percent,” labour market statistics manager Scott Ussher said. More>>


Ex-KPEX: Stuff Pulls Pin On Media Companies' Joint Ad-Buying Business

A four-way automated advertising collaboration between the country's largest media companies is being wound up after one of the four - Australian-owned Stuff - pulled the pin on its involvement as part of a strategic review of its operations ... More>>

Bus-iness: Transdev To Acquire More Auckland And Wellington Operations

Transdev Australasia today announced that it has agreed terms to acquire two bus operations in Auckland and Wellington, reaching agreement with Souter Investments to purchase Howick and Eastern Buses and Mana Coach Services. More>>